AAON, Inc. (NASDAQ:AAON) Sees Large Growth in Short Interest

AAON, Inc. (NASDAQ:AAON) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,780,000 shares, a growth of 14.9% from the March 31st total of 2,420,000 shares. Based on an average trading volume of 437,300 shares, the short-interest ratio is currently 6.4 days.

Insider Activity

In related news, Director Norman H. Asbjornson sold 19,136 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $81.30, for a total value of $1,555,756.80. Following the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at approximately $1,209,256.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AAON news, Director Norman H. Asbjornson sold 19,136 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $81.30, for a total value of $1,555,756.80. Following the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at approximately $1,209,256.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen E. Wakefield sold 24,655 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the completion of the transaction, the vice president now directly owns 15,992 shares in the company, valued at $1,293,113.12. The disclosure for this sale can be found here. Insiders have sold 44,596 shares of company stock worth $3,613,768 in the last ninety days. Company insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAON. Vanguard Group Inc. increased its position in shares of AAON by 57.2% in the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock worth $425,936,000 after acquiring an additional 2,725,779 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in AAON by 46.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company’s stock worth $249,392,000 after purchasing an additional 1,380,751 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of AAON by 0.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock worth $247,778,000 after purchasing an additional 25,178 shares during the period. Geneva Capital Management LLC boosted its position in shares of AAON by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 1,702,641 shares of the construction company’s stock valued at $125,774,000 after acquiring an additional 13,864 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of AAON by 111.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock worth $91,361,000 after buying an additional 847,953 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Price Performance

AAON stock opened at $91.15 on Monday. The stock has a market cap of $7.48 billion, a P/E ratio of 42.73 and a beta of 0.91. The company has a fifty day simple moving average of $85.47 and a 200-day simple moving average of $73.40. AAON has a 12-month low of $52.24 and a 12-month high of $93.30. The company has a current ratio of 3.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.05.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. AAON had a net margin of 15.20% and a return on equity of 27.20%. The firm had revenue of $306.60 million during the quarter, compared to analysts’ expectations of $294.35 million. During the same period in the previous year, the company earned $0.47 earnings per share. AAON’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts expect that AAON will post 2.29 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.08 per share. The ex-dividend date was Friday, March 15th. This represents a $0.32 annualized dividend and a yield of 0.35%. AAON’s payout ratio is currently 15.00%.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.